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Plastic Caps and Closures Market Size (2024 - 2029)

The plastic caps and closures market is projected to experience growth due to its essential role in various industries, including food and beverages, pharmaceuticals, and cosmetics. The increasing demand for packaged products and bottled water, driven by consumer awareness of safety and contamination, is expected to boost the market size. However, the industry faces challenges due to fluctuating raw material costs, which impact production expenses. The market's expansion is further supported by the heightened need for packaging solutions in response to global events such as the COVID-19 pandemic and geopolitical tensions.

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Market Size of Plastic Caps and Closures Industry

Plastic Caps and Closures Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.60 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Plastic Caps and Closures Market Major Players

*Disclaimer: Major Players sorted in no particular order

Plastic Caps and Closures Market Analysis

The plastic caps and closures market is expected to register a CAGR of 4.6% over the forecast period. Plastic caps and closures are used in industry segments such as food and beverages, pharmaceuticals, household goods, cosmetic products, etc. Caps and closures are the final components of packaging and are responsible for maintaining the integrity of the product packing.

  • Heat induction cap liner could be used on various bottles made up of different plastic materials such as PP, PVC, HDPE, etc., which protects the container from leakage and provides tamper evidence characteristics to it, due to which the market will grow in the future.
  • Caps and closures use PP and PE as the primary raw materials for manufacturing. Industries rely heavily on plastic caps and closures, providing a cost-effective sealing solution. The demand for packaged food and pharmaceutical drugs has been increasing at a healthy rate. As an impact of this, the caps and closures market is also expected to record an increase in demand during the forecast period.
  • A rise in bottled water demand from customers worldwide drives the market for plastic caps and closures. Plastic caps and closures are used to seal water bottles to avoid spills, simplify transportation, and improve shelf life. The growing awareness of water contamination and safety issues is driving up demand for bottled water.
  • Additionally, 15.6 billion gallons of bottled water were drunk globally, up 4.5% from the previous year, according to Beverage Marketing Corporation (BMC). This is anticipated to persist during the projection period, driving up demand for plastic caps and the market for closures.
  • However, this industry is comprehensively dependent on raw materials suppliers for manufacturing. PP and PE, which are used as raw materials, have significantly fluctuating costs in the market. As the production cost depends on this raw material, manufacturers find it challenging to maintain constant output.
  • Before the COVID-19 pandemic, the worldwide food and beverage sector grew due to the rising popularity of ready-to-eat foods and portable food. As hospitals, pharmaceutical companies, and makers of personal protective equipment (PPE) react to the crisis, there will likely be a strong demand for plastic caps and closures in the pharmaceutical sector.
  • During the pandemic, there was a significant increase in demand for hand-washing products and hand sanitizers, which had a favorable effect on the plastic caps and closures industry. There has also been an impact of the Russia-Ukraine war on the overall packaging ecosystem.

Plastic Caps and Closures Industry Segmentation

The plastic caps and closures market aims to study the various segments of the manufacturing process of plastic caps and closures and the end consumers. End-users of plastic caps such as pharmaceuticals, cosmetics, and toiletries offer vast opportunities. The plastic material used to manufacture plastic caps & closures is thermoplastic and thermosets. Plastic caps & closures are recyclable and lightweight, making them ideal for packaging a variety of carbonated & non-carbonated beverages and industrial goods.

The Plastic Caps and Closures Market is segmented by Application (Food, Pharmaceuticals, Beverages, Cosmetics, and Toiletries), Raw Material (PP, HDPE, LDPE), and Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Application
Food
Pharmaceutical
Beverage
Cosmetics and Toiletries
Other Applications
Raw Material
PP
HDPE
LDPE
Other Raw Materials
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle East & Africa
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Plastic Caps and Closures Market Size Summary

The plastic caps and closures market is poised for steady growth, driven by its essential role in various industries such as food and beverages, pharmaceuticals, household goods, and cosmetics. These components are crucial for maintaining product integrity and preventing leakage, with materials like polypropylene and polyethylene being the primary choices for manufacturing. The increasing demand for packaged food and pharmaceutical products, along with the rising popularity of bottled water, is expected to bolster the market. However, the industry faces challenges due to fluctuating raw material costs, which can impact production stability. The COVID-19 pandemic and geopolitical events like the Russia-Ukraine war have also influenced market dynamics, highlighting the sector's dependence on global supply chains.

In Europe, the food and drink industry significantly contributes to the demand for plastic caps and closures, with Germany leading in beverage production. The growing health consciousness among consumers and the rise in on-the-go food consumption, particularly among millennials, are further driving market expansion in regions like the United States and Canada. The market is characterized by a mix of consolidated and fragmented structures, with key players such as Silgan Holdings Inc., Amcor Ltd, and Crown Holdings Inc. actively innovating to meet evolving consumer and regulatory demands. Recent developments include child-resistant caps and attached caps for improved recycling, reflecting the industry's commitment to sustainability and safety.

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Plastic Caps and Closures Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Demand for Packaged Food and Pharmaceutical Drugs

      2. 1.2.2 Increasing Demand from Small and Medium Scale End-user Industries

    3. 1.3 Market Challenges

      1. 1.3.1 Fluctuation in the Cost of Raw Materials

    4. 1.4 Industry Value Chain Analysis

    5. 1.5 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Food

      2. 2.1.2 Pharmaceutical

      3. 2.1.3 Beverage

      4. 2.1.4 Cosmetics and Toiletries

      5. 2.1.5 Other Applications

    2. 2.2 Raw Material

      1. 2.2.1 PP

      2. 2.2.2 HDPE

      3. 2.2.3 LDPE

      4. 2.2.4 Other Raw Materials

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 Germany

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Australia

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of Latin America

      5. 2.3.5 Middle East & Africa

        1. 2.3.5.1 United Arab Emirates

        2. 2.3.5.2 Saudi Arabia

        3. 2.3.5.3 South Africa

        4. 2.3.5.4 Rest of Middle East & Africa

Plastic Caps and Closures Market Size FAQs

The Plastic Caps and Closures Market is projected to register a CAGR of 4.60% during the forecast period (2024-2029)

Silgan Holdings Inc., Amcor Ltd, Crown Holdings Inc., Aptar Group Inc. and Berry Global Inc. are the major companies operating in the Plastic Caps and Closures Market.

Plastic Caps and Closures Market Report Snapshots

Plastic Caps and Closures Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)